Housing Wire

MARCH 21, 2024

Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. The trade group urged the regulators to examine Equifax’s pricing practices.

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Insurance Legal Finance Mortgage 402

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

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Tools Mortgage Finance Lending 349

Appraisal Buzz

MAY 6, 2024

Does the cost of homeowners insurance affect the price of a home? In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters. In some markets, the answer is increasingly yes.

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HOA Insurance Legal Fees Valuation 370

Housing Wire

APRIL 5, 2022

But what does virtual real estate mean for real-world mortgage professionals? There is a legal description. In Decentraland or Sandbox, for example, the legal descriptions are individual pixels (essentially code) that define the “parcels.” Is there demand for “mortgages” to buy virtual real estate in the Metaverse?

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Real Estate Mortgage Property Taxes Law 527

Housing Wire

MAY 13, 2024

A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. The attention on nonbank mortgage companies have increased since their expansion following the financial crisis of the late 2000s.

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Finance Government Mortgage Legal 394

Housing Wire

DECEMBER 21, 2020

The moratorium directs mortgage servicers to halt all new foreclosure actions and suspend all foreclosure actions currently in progress, excluding legally vacant or abandoned properties. Low mortgage rates fuel the demand for valuation and settlement services. Presented by: VRM Mortgage Services. 28, 2022. 31, 2020.

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Housing Wire

JANUARY 10, 2023

Amid a rapidly shrinking mortgage market, the company reported a loss of $133.98 It resulted from a big decline in mortgage banking, title insurance revenues and an impairment related to the Title365 segment. . million in the third quarter of 2022. He’ll also receive a $1 million signing bonus.

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Housing Wire

APRIL 10, 2024

Mortgage brokers ’ compensation is in the spotlight after a recent Federal Deposit Insurance Corporation (FDIC) test concluded that some financial institutions failed to prove that payments were “reasonably related” to the value of services provided. Violations identified vary across different stages of the loan process.

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Housing Wire

OCTOBER 18, 2023

“I do anticipate that in 2024 we will propose some amendments to the mortgage servicing rules that are reflective of what we learned through the pandemic,” Chopra said on Monday morning to an audience of mortgage professionals. ” Chopra spoke during the Mortgage Bankers Association (MBA) Annual Conference held Oct.

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Housing Wire

APRIL 17, 2024

According to the report, “this increase highlights the ability for bad actors to successfully gain knowledge of mortgage and real estate closings and then attempt to use spear phishing, Business Email Compromise attacks or other means to divert funds going to and out of escrows / settlement accounts.” In total, CPL issues were found on 44.6%

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Insurance Agents Tools Legal 425

Housing Wire

MARCH 7, 2024

The mortgage relief credit would provide “middle-class first-time homebuyers with an annual tax credit of $5,000 a year for two years,” according to the announcement. This would act as an equivalent to reducing the mortgage rate by more than 1.5% on a median-priced home for two years, and it is estimated to “help more than 3.5

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Construction Renovations Insurance Landlords 528

Housing Wire

JULY 19, 2022

Fannie Mae and Freddie Mac ’s regulator imagines a future where, perhaps through artificial intelligence and machine learning, errors in mortgages are identified in real time before a loan is closed. billion five years ago, per the Federal Housing Finance Agency — closing a mortgage loan has since gotten more expensive, not less.

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Mortgage Finance Technology Legal 342

Housing Wire

MARCH 13, 2023

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , Treasury and introducing new technologies to the housing finance system. Founded in 1983, SVB specialized in banking for tech startups, providing financing for almost half of U.S.

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Insurance Government Design Finance 355

Housing Wire

AUGUST 8, 2023

Mortgage tech firm Lender Toolkit sued two mortgage lenders claiming that the companies failed to make payments while continuing to use its services and software solutions. Lender Toolkit accused Celebrity Home Loans and MLD Mortgage of breach of contract. That’s according to separate filings made in the U.S.

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Mortgage Contracts Legal Business 259

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. that use trended credit bureau data.

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Housing Wire

JULY 21, 2023

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 The news was first reported by legal website Top Class Action. Cyber security issues are among the biggest challenges for real estate and housing finance companies. million class action lawsuit to resolve claims surrounding a 2020 data breach.

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Housing Wire

NOVEMBER 1, 2021

The Federal Housing Finance Agency today announced the hiring of a new legal advisor to FHFA Acting Director Sandra Thompson as well as the replacement of a Trump-era hire with a veteran agency official. She had also served as vice president of research and economics at the Mortgage Bankers Association. Presented by: Snapdocs.

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Housing Wire

MARCH 29, 2021

The announcement named Stacie Herron as KWx chief legal officer; Dave Smith as president of Keller Home Financial Services; TV Kumaresh as head of strategy planning and integration; and Paige Gorman as vice president of integration. mortgages, and was CEO and president of CitiMortgage Inc. retail bank and mortgage operations.

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Retail Insurance Legal Finance 403

Housing Wire

AUGUST 8, 2022

Cenlar FSB , the nation’s second-largest mortgage servicer and largest sub-servicer, has installed new leadership following the retirement of its president, CEO and chairman Greg Tornquist. Chief Operating Officer Rob Lux was named co-CEO for operations, technology, business development, client management, human resources, and legal.

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Human Resources Legal Finance Insurance 319

Housing Wire

FEBRUARY 1, 2021

The Federal Housing Finance Agency appointed Clinton Jones as its new general counsel, saying this was the next step in turning the FHFA into a “world-class regulator.” When Calabria first took over as head of the agency, he focused on mortgage giants Fannie Mae and Freddie Mac and their future in conservatorship.

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Housing Wire

MARCH 24, 2022

A HUD spokesperson denied the department has any intention of eliminating the use of these programs with FHA-insured mortgages. Leaders of the tribes wrote that HUD had not met its legal obligation to consult with them before the proposed rule. They voiced their concerns in a March letter to HUD Sec. Marcia Fudge.

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Housing Wire

SEPTEMBER 2, 2022

Finance of America Reverse. Freedom Mortgage. Finance of America Mortgage. VP, All In One Loan Finance. Enact Mortgage Insurance. AmeriHome Mortgage. Mortgage Coach. Fairway Independent Mortgage Corporation. Association of Independent Mortgage Experts. Andrew Lloyd.

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Retail Realty Finance Technology 307

Padove Appraisal Service

FEBRUARY 24, 2023

Financing: If you are financing your purchase or refinancing your existing mortgage, your lender may require an appraisal to ensure that the property’s value is sufficient to secure the loan. They are an important tool for ensuring that property is priced, taxed, insured, and distributed fairly and accurately.

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Appraisal Property Taxes Insurance Market Value 148

Housing Wire

NOVEMBER 2, 2023

Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. Smart Rate marked Strauss’s return to the mortgage market after abruptly shuttering Sprout Mortgage in July 2022. Mortgage tech platform Modex shows that Strauss, the only mortgage loan officer at Smart Rate, originated $5.56

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Business Loan Officers Law Mortgage 399

Housing Wire

FEBRUARY 4, 2021

It will be financed through a combination of committed equity financing provided by funds managed by Stone Point Capital and Insight Partners, as well as committed debt financing provided by JPMorgan Securities. Strategies lenders should adopt from direct to consumer lending.

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Housing Wire

APRIL 16, 2024

As the engines of the housing and mortgage markets continue to sputter due to higher interest rates and fewer buyers, industry innovators are looking for ways to get their company’s wheels off the ground. I have had agents tell me, ’You’re not getting any of my mortgage business anymore,’ he said. according to the company.

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Real Estate Agent Loan Officers Real Estate Agents 401

Housing Wire

AUGUST 22, 2023

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). the trade groups state. Department of the Treasury ; and the Federal Reserve System. .

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Valuation Appraisal Government Real Estate 355

Housing Wire

MAY 27, 2022

The requirement also applies to mortgage lenders, legal experts say. According to Kris Kully, an attorney at Mayer Brown , the notice will affect mortgage lenders because many of the underwriting systems lenders use to measure default risk contain proprietary algorithms, or “black-box models.”

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Housing Wire

APRIL 4, 2024

The following day, Martin Gruenberg, chairman at the Federal Deposit Insurance Corp. Kevin Stein, chief of legal and strategy at Rise Economy, said during the same session that the new CRA rules ignore some relevant topics.

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Modernization Law Legal Landlords 223

Housing Wire

APRIL 13, 2022

As a driver of the economy, housing should be bolstered by: Non-bank lending institutions to lend in lower-income areas and to minorities in the same way that CRA provides for banks Reducing government-insured and guaranteed mortgage loan fees. Since 2016, legal immigration growth has declined by 40%.

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Insurance Construction Government Lending 366

Housing Wire

NOVEMBER 13, 2023

In recent years, the value proposition of title insurance has come under attack following Fannie Mae’s announcement that it would accept attorney opinion letters in lieu of title insurance, as well as Fannie Mae and Freddie Mac’s title waiver programs , which were eventually scrapped. “If

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Insurance Real Estate Agents Real Estate Agent 379

Housing Wire

APRIL 19, 2021

Knox automates and oversees a property’s finances and taxes, insurance, leasing and legal, tenant and property care, banking, and bill pay. Knox oversees a portfolio of more than $100 million in investment properties, and was named one of HousingWire’s 2021 Tech100 companies.

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Landlords Investing Tenants Construction 371

Will Springer Realtor

NOVEMBER 21, 2023

If attempts to get on the property ladder have been stymied by high financing costs, an answer may be “living” within your future home. For those seeking an alternative route to homeownership, wraparound mortgages may just be the answer. It starts with the current homeowners and their existing mortgage. Flexible Terms.

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Mortgage Legal Sellers Buyers 65

Housing Wire

JULY 30, 2021

The Federal Housing Finance Agency and the Federal Housing Administration today both announced they would each extend their eviction bans on borrowers of foreclosed properties. ““The pandemic continues to have an outsized impact on the ability of Americans to meet their monthly rent or mortgage payments.

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Real Estate Finance Legal Insurance 457

Housing Wire

APRIL 23, 2024

I would love to see Fannie Mae and Freddie Mac allowing some type of financing of the commission, but I don’t think it will happen,” Lamacchia said. “I I think it takes the mortgage professionals in this room — brokers and agents all — to be having these conversations,” Dwiggins said. Stop being scared. Lead from the front.

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Brokerage Sellers Buyers Agents 292

Housing Wire

SEPTEMBER 16, 2021

Kully previously worked at the Department of Housing and Urban Development as a senior attorney, in the legal division at Fannie Mae and as a partner at K&L Gates. housing finance industry and deserves a strong leader. Kris Kully: I have been following the trending innovations in the mortgage origination process.

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Finance Legal Development Training 308

Housing Wire

APRIL 20, 2021

Federal Housing Finance Agency Director Mark Calabria said the controversial amendments made to Fannie Mae and Freddie Mac ‘s Preferred Stock Purchase Agreements in late January should be just the start. That would be like if Wells said, ‘Well, we’ve got deposit insurance so who cares.'”

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Finance Investing Lending Legal 497